bulk annuity
Evonik scheme completes £544m full buy-in with L&G
The defined benefit (DB) scheme of Evonik Holdings UK has agreed a £544m full buy-in with Legal & General (L&G) Assurance Society.
Marie Curie completes £30m buy-in with L&G in first 2021 deal
The Marie Curie defined benefit (DB) scheme has entered into a circa £30m full scheme buy-in agreement with Legal & General (L&G) Assurance Society.
Buy-in and buyout volumes to reach £30-£40bn in 2021; Superfund 'floodgate' may open
Between £30bn and £40bn of pension risk is expected to be transferred to insurers via buy-ins and buyouts this year, Aon says.
Maersk agrees £1.1bn buy-in with L&G
The Maersk Retirement Benefit Scheme has agreed a £1.1bn buy-in with Legal & General (L&G) Assurance Society, protecting benefits for around 4,900 members.
Aon agrees £510m buy-in with Scottish Widows
The Aon Retirement Plan has completed a £510m pensioner buy-in with Scottish Widows, insuring members in the Aon Bain Hogg Pension Scheme section.
Pension schemes urged to avoid 'over-reacting' to impact of Covid-19
Aon has urged the pensions industry to avoid over-reacting to the impact of Covid-19, as it predicts another huge year for the UK risk settlement industry in 2021.
What Covid-19 means for longevity and bulk annuities
Darryl Brundle and Ashley Kanter look at the contrasting pressures and easements on longevity associated with the pandemic
Self-sufficiency falls in popularity as long-term objective
Fewer pension schemes are targeting self-sufficiency as their long-term objective while bulk annuity pricing improves and the consolidation market opens up.
Schemes to transfer £50bn of risk to insurers this year
Around £50bn of risk will be transferred to the bulk annuity and longevity swap market by the end of the year despite a slow start to the market, Aon says.
Marathon Service scheme agrees £610m full buy-in with Rothesay Life
The Marathon Service (GB) Limited Pension and Life Assurance Scheme has completed a £610m full buy-in with Rothesay Life, covering the benefits of more than 1,400 members.
Just Group completes £460m of de-risking deals in H1
Just Group completed £460.3m of bulk annuity deals in the six months to 30 June, its half-year results have revealed.
Littlewoods scheme completes £930m buy-in with Rothesay Life
The Littlewoods Pensions Scheme has completed a buy-in covering just under £930m of around 6,500 members’ benefits with Rothesay Life, the majority of which relate to deferred members.
Phoenix reports small profit hike as bulk annuities top £1bn
Phoenix Group has reported a £36m increase in group operating profit in the first six months of this year, as well as strong cash generation of £433m.
Aviva profits dented by Covid-19 but bulk annuities offset fall
Aviva’s operating profit fell by 11% in the first half of the year as Covid-19 hit business activity, although a growth in bulk annuity sales partially offset the drop.
LV= converts longevity swap into £800m buy-in with Phoenix Life
The LV= Employee Pension Scheme has agreed a buy-in of around £800m with Phoenix Life after converting an existing longevity swap.
Bulk annuities help sponsors outperform peers on share prices
Sponsors whose pension schemes complete buy-ins or buyouts tend to outperform their peers by between 0.25% and 3% on average, Mercer research finds.
Bulk annuity 'end of year sale' possible as total volumes expected to halve
Covid-19 has caused a slowdown in the number of bulk annuity transactions, with buy-ins and buyouts expected to amount to a maximum of £25bn this year, Willis Towers Watson says.
How the GHG scheme learned from one crisis to complete a buy-in during another
Twelve years after its funding level was hit severely by the global financial crisis, the GHG pension scheme completed a £150m buy-in amid the Covid-19 economic chaos. James Phillips speaks to the key players about the journey.
L&G agrees £650m buy-in with 3i scheme
The 3i Group Pension Plan has agreed a £650m buy-in with Legal & General (L&G), insuring the remaining benefits within the scheme.
L&G announces bulk annuities with UK and US schemes
Legal & General has agreed two bulk annuity deals worth £116.2m with UK- and US-based IHS Markit schemes.
Co-op agrees £350m buy-in with Aviva
The Co-operative Pension Scheme (Pace) has entered into its fourth bulk annuity transaction of 2020, agreeing a £350m buy-in with Aviva.
Agreeing bulk annuities in a crisis
After a bumper year, insurers are now facing a slower and smaller pipeline as schemes grapple with Covid-19, writes James Phillips.
Leonardo Electronics completes £160m buy-in with Just
The Leonardo Electronic Pension Scheme has concluded a £160m pensioner buy-in with Just Group in the scheme’s first risk transfer exercise.
Bulk annuity volumes still to hit £25bn this year
Around £25bn of buy-ins and buyouts are set to be transacted this year despite the Covid-19 challenges, according to Lane Clark & Peacock (LCP).
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